As the Publisher of a Magazine that caters to DC parents for over 20 years, I've come to really appreciate how smart and informed our readers are. We in DC, more than other areas of the country, truly live and breathe what is going on with the Federal budget.
I wanted to share what I consider great news for all of us - as a small business owner and a parent in the region, I know about being buffeted by the economy. I really believe that with this new two year budget in place, our readers should be encouraged.
Here's my take on the budget - I an certain our readers will:
- Feel a renewed sense of stability
- Invest in their child's education
- Invest in their child's enrichment
- Have confidence in personal careers and income
Parents are going to want to invest in their children and will feel more confident to spend their income.
Here are some facts to back up my claims. The market in the Washington, DC area is poised for significant growth. Our readers and our advertisers will benefit from this. 2014 is going to be an exciting year for all of us.
Unemployment rates -
Washington region counties have declined up to 1.6% (national rate of decline is 0.6%)
19 out of 22 counties have a lower unemployment rate than 2 years ago.
Income in DC area -
Income in our area increased 23.3% between 2000 and 2012. Nationally median household incomes dropped. The Washington, D.C. metro area — which includes the surrounding suburbs in Maryland, Virginia and West Virginia — ranks highest in income among the U.S.’s 25 most populous metro areas.
This article from the Wall Street Journal details the income statistics in our area.
Housing prices on the rise in DC area -
Our home prices went up 4% in November alone. We are back to peak levels with competitive bidding taking place in many home purchases.
Inventory of houses -
The inventory of available houses (new listings) jumped 13% in our region this summer. A greater inventory means more opportunity for sales and people are jumping back into the real estate market.
This article by Forbes details the movement in our housing industry.